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The Clerk presented to the Board a letter from the County Drain
Commissioner stating that a resolution has been adopted by the Drainage Board
for the Claude H. Stevens Relief Drains authorizing the issuance of
Drain Bonds in the aggregate amount of $675,000, and requesting that
the Board adopt a resolution to pledge the full faith and credit
of the County of Oakland as secondary security for the prompt payment
of said Drain Bonds.
By unanimous consent, the said communication was ordered filed
with the Clerk
JAMES E. PEMBERTON
Depiity mid Chief Eiaginees.
HOWARD V. RUMMELL
Firvirace Officer
dilsompossolawasimor
January 24, 1972
OAKLAND COUNTY DRAIN COMMISSIONER
NO. 1 PUBLIC WORKS DRIVE
PONTIAC, MICHIGAN 48054
FEDERAL 8-4585 moommommmw
Joifftrubba nommammommir ca4rupnosiiewer
William M. Richards
Honorable Board of Commissioners
Public Works Committee
1200 N. Telegraph Road
Pontiac, Michigan
Reference: CLAUDE H. STEVENS RELIEF DRAINS
Mr, Chairman, Ladies and Gentlemen:
There is submitted to you herewith a certified copy of a resolution
adopted by the Drainage Board for the Claude H. Stevens Relief
Drains authorizing the issuance of Drain Bonds in the aggregate
amount of $675,000 pursuant to the provisions of Chapter 20 of the
Drain Code of 1956, as amended, and other applicable laws, Also
submitted to you herewith is a form of proposed resolution for
adoption by the Board of County Commissioners for the purpose of
pledging the full faith and credit of the County of Oakland as
secondary security for the prompt payment of said Drain Bonds.
The said Bonds are issued in anticipation of the payment by the
Township of Bloomfield and the County of Oakland of drain assessments
against said public corporations in the aggregate amount of at least
equal to the amount of said bonds. The full faith and credit of
said public corporations is pledged, by law, to the prompt payment
of said assessments and the interest thereon, when due. The law
further authorizes and obligates the said public corporations to
levy a tax in an amount sufficient to make said payments (unless
other funds are on hand available for said purpose) which tax may
be levied without limitations as to rate or amount. The County is
entitled by law, to recover from said public corporations the amount
advanced from County funds at anytime in fulfillment of the County's
secondary pledge of its full faith and credit.
OAIAND COUNTY DRAIN COMMISSIONER
Honorable Board of Commissioners January 24, 1972
Public Works Committee Page 2
Reference': CLAUDE H. STEVENS RELIEF DRAINS
It is respectfully requested that the enclosed resolution be adopted
for the reasons set forth in the preambles thereto and because the
pledge of the County's full faith and credit will result in a
material savings in bond interest to be paid.
Sincerely,
CLAUDE H. STEVENS RELIEF DRAINS
DRAINAGE BOARD
William K. la-dhaiai, Chairman &
Oakland County Drain Commissioner
WMR:es
Enclosures
February 3, 1972
RESOLUTION NO. 5915
BY: Mr. Lennon
IN RE: CLAUDE H. STEVENS RELIEF DRAINS
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
MR. CHAIRMAN, LADIES AND GENTLEMEN:
WHEREAS, proceedings have been taken by the Statutory
Drainage Board for the construction of the Claude H. Stevens Relief
Drains under the provisions of Act No. 40 of the Public Acts of Michigan
of 1956, as amended, pursuant to a petitiob filed by the Township of
Bloomfield, July 13, 1967; and
WHEREAS, the said Drainage Board by resolution adopted on
January 18, 1972, authorized and provided for the issuance of bonds in
the aggregate principal amount of $675,000 in anticipation of the
collection of an equal amount of special assessments against the
Township of Bloomfield and the County of Oakland, said special
assessments having been therefore duly confirmed by said Drainage Board;
and
WHEREAS, said bonds are to be de ignated Drain Bonds, are
to be dated July 1, 1972, will bear interest at a rate not exceeding
7%, and will be subject to redemption prior to maturity in accordance
with the provisions of the bond resolution,; and
WHEREAS, Section 474 of said Act No. 40, as amended, provides
in part as follows:
"If any public corporation fails or neglects
to account to the county treasurer for the amount
to any installment and interest, tnen the county
treasurer shall advance the amount thereof from
county funds in the following cases:
"(1) If any bonds or other evidence of in-
debtedness have been issued to finance a project,
the petition for which was filed after June 6,
1961 in anticipation of the collection of the
installment and interest pursuant to the provisions
of this chapter and the board of supervisors has
previously acted, by a resolutiOn adopted by a 2/3
vote of its members elect, to pledge the full faith
and credit of the county for the prompt payment of
the principal of and interest on the bonds or
evidence of indebtedness, or
"(2) If any bonds or other evidence of in-
debtedness have been issued tolfinance a project,
the petition for which was filed prior to June 6,
1961 in anticipation of the collection of the
installment and interest pursuant to the provisions
of this chapter."
• WHEREAS, said Drainage Board deems it advisable and necessary
to obtain from this Board a resolution consenting to the pledge of the
full faith and credit of the county on the aforesaid bonds; and
WHEREAS, the said drainage project is immediately necessary
to protect and preserve the public health and therefore it is in the
best interest of the County of Oakland that said bonds be sold.
NOW, THEREFORE, BE IT RESOLVED BY THE OAKLAND COUNTY BOARD
OF COMMISSIONERS:•
That pursuant to the authorization provided in Section
474 of Chapter 20 of the Drain Code of 1956, as amended, the Oakland
County Board of Commissioners does hereby irrevocably pledge the full
faith and credit of the County of Oakland for the prompt payment of the
principal of and •interest on the said Drain Bonds, and does agree that
in the event the Township of Bloomfield or the County of Oakland shall
fail or neglect to account to the County Treasurer of the County of
Oakland for the amount of any special assessment installment and
interest, for the Claude H. Stevens Relief Dins, when due, then the
amount thereof shall be immediately advanced from County Funds,-and .the
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County Treasurer is directed to immediately make such advancement to the
extent necessary.
2. That in the event that, pursuant to said pledge of full
faith and credit, the County of Oakland advances out of County Funds,
all or any part of said installment and interest, it shall be the duty
of the County Treasurer, for and on behalf of the County of Oakland, to
take all actions and proceedings and pursue all remedies permitted or
authorized by law for the reimbursement of such sums so paid.
3. That all resolutions and parts of resolutions insofar
as the same may be in conflict with the Provisions of this resolution
be and the same hereby are rescinded.
MR. CHAIRMAN, on behalf of thelPublic Works Committee, I
move the adoption of the foregoing resolution.
PUBLIC WORKS COMMITTEE
Bernard F. Lennon
Chairman
Moved by Lennon supported by Dal)/ the rewjlution be adopted.
ADOPTED: Ayes: Coy, Daly, Doyon, Harrison, Horton, Kasper, Kronenberg, Lennon,
Mainland, Mathews, Olson, Paholak, Patnales, Perinoff, Pernick,
Powell, Richardson, Simson, Szabo, Wilcox, Barakat, Burley. (22)
Nays: None. (0)
Absent: Aaron, Dearborn Gabler, Hamlin, Houghten. (5)
STATE OF MICHIGAN )
)SS:
COUNTY OF OAKLAND )
I, the undersigned, the duly qualified and acting County Clerk
of the County of Oakland, do hereby certify that the foregoing is a
true and complete copy of a resolution adopted by a 2/3rds vote of the
members elect at a regular meeting of the: Oakland County Board of
Commissioners, held on the 3rd d ay of February --. , 1972, the
original of which is on file in my office'.
IN WITNESS WHEREOF, I have hereunto affixed my official
signature this 3rd day of February , A.D. 1972.
.Alien, County Clerk Lynn
$111,134.00
81,870.00
1 88,347,00
!181,321.00
23,752.00
19,331,00
W5,755.00
$ 31,610.00
9,390.00
T11,000.00
5,050.00
2,250.00
400.00
7,760-TUU
225.00
95.00
100.00
200.00 .
$ 6-2070-6
$505,755.00
$ 41,000.00
$ 20,000.00
$ 7,700.00
$ 1,475.,00
$ 620.00
$ 15,000.00
$ 49,900.00
$ 58 550.00
$ 7 0 0 ,000 . 0 0
CLAUDE H. STEVENS RELIEF DRAINS
1. Construction Cost
A. Section 1
B. Section 3
C. Section 4
D. Section
E. Section 6
F. Section 11
2. Engineer's Design Fee
Resident Engineer
3, Inspection Including Layout
4. Legal and Financial
A. Bond Counsel
B. Financial Consultant
C. Bond Printing
5, Administrative Expenses
6. Publishing Notices
A. Pontiac Press
- B. Birmingham Eccentric
C. Michigan Contractor
D. Michigan Investor
7. Rights-of-Way (Incl. Cost of Negotiator)
8. Capitalized Interest
(7% x 1 yr. x $700,000.00)
9. Contingencies (9.128%)
TOTAL ESTIMATED COST
Prepared by: '
James E. Pemberton
Chief Engineer Deputy
12-22-71
SOUTH BOUL!VARD
SECTION
NO. 6
SECTION
NO.4
2 MILES
SCALE
I MILE
SECTION
NO.3
100 .000%
CLAUDE H. STEVENS
RELIEF DRAINS
Sections 1,3,4,5,6 8d1
BLOOMFIELD TOWN SHIP
OAKLAND COUNTY, MICHIGAN
APPORTIONMENT:
TOWNSHIP OF
BLOOL1FIZLO - 77.940 %
COUNTY OF
OAXLAND
FOR STREET
DRAINAGE 19. 101. %
STATE OF
MICHIGAN
FOR STREET
DRAINAGE------ - -2.9 5 I %